Ohio STRS Critic Eyes Board Seat

March 10, 2004 (PLANSPONSOR.com) - Dennis Leone has
thrown his hat into the political arena, announcing plans to
run for a seat on the Ohio State Teachers Retirement System's
(STRS) board of directors.

The Chillicothe schools superintendent made a name for
himself last year when he opened the Pandora’s box of
lavish spending at the pension fund.
Leone’s questions in turn led to a massive probe into the
$47 billion fund’s spending practices that turned up such
questionable spending practices as a
$94.2-million office building adorned with $869,000
in artwork, generous fringe benefits for STRS employees,
and frequent out-of-state travel for pension board members
(See
Ohio Pension Fund Hit for Lavish Spending
Practices
)
, according to a
Gannett News Service
report.

Later, Leone
sent to the Ohio Retirement Study Council – and to
every superintendent and principal in the state – a 13-page
report outlining more than 30 proposed changes to the STRS
board
(See
STRS Spending Critic Offers
Recommendations
)
. The Ohio Retirement Study Council oversees
the state’s public pension funds.

His revelations led to the dismissal of STRS
executive director Herbert Dyer (See
Dyer Steps Down From Ohio STRS Post
), prompted a series of internal policy changes, and
pushed lawmakers to work on revising oversight of state
pension boards.

Now the superintendent wants to affect change from
the inside out, eyeing the retired teacher seat on the STRS
board.
This would be possible for Leone who announced his
plans to retire in December, following ongoing disputes
with the local school board.
The planned retirement would make Leone eligible for the
seat in the 2005 board election. Additionally, there is
currently a legislative proposal that would add a second
retiree seat to the six-member board.